The long-awaited initial public offering of Blackstone Group ( symbol, BX ) is history. The IPO price of 31 was a bargain as brisk, subsequent open-market trading saw the issue rise another 20% to app. $38. That price values the entire company at app. $40 billion.
What real world effect does that alchemical Wall St phenomenon have? Well it creates $ 40 billion of new wealth in a blink of geological time so frivolous monkeys can borrow against or spend in the world's irreplaceable natural resource bazaar. Wouldn't it be nice if it were that easy for forests, lakes, pollution-free air to be created?
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